Nokia's Turnaround Has Long Way to Go

Revenue Continues to Fall Amid Weak Phone Shipments

By

Juhana Rossi

Updated July 18, 2013 6:55 p.m. ET

HELSINKI—The erosion of Nokia Corp.'s mobile device unit continued in the most recent financial period, dealing Chief Executive Stephen Elop another quarterly loss and pushing the Finnish handset maker to rely more heavily on a wireless networks business that was until recently a drag on its bottom line.

Nokia on Thursday reported a blistering 24% revenue decline in the second quarter as demand for its handheld devices fell by...